Someone Forgot to Give Thanks...
Meme Tops vs Meme Bottoms
After 4% of South Korean adults were margin-called (!), the crash in the AI Trade has claimed another high-profile victim:
Leopold Schnitzelburger (or something like that) was widely celebrated as the Rock Star of the AI Trade. Unfortunately, his fund Situational Awareness suffered heavy losses in the latest rout and is now looking to raise fresh capital. The fund was using leverage to amplify returns (source: FT).
It baffles me why someone would use leverage after such a massive run. One possible explanation is that Leopold has Korean DNA, in which case he should change his name to Lee Pol! One thing’s for sure:
Someone forgot to give thanks!
Since he will soon have fresh capital, what Lee Pol should do is pay a measly $444 annual subscription for Shrubstack so he learns to Give Thanks.
It’s not too late Lee Pol!